Internet of Things (IoT) is finding its way across various industries and applications, and the data generated from these devices is creating new opportunities to improve business outcomes. Managing this data is key to delivering organizational insights. Furthermore, choosing the appropriate storage solution for long- and short-term storage of this data is vital.
IDC Asia/Pacific’s latest report titled Business Models for the Long-Term Storage of Internet of Things Use Case Data details how generated data expanded across a multitude of IoT devices – deployed across various industry verticals – and how their respective use cases can be managed and archived.
Abhishek Mukherjee, Senior Market Analyst for Telecommunications and IoT at IDC Asia/Pacific, says:
“While IoT is becoming an acceptable term across various application areas, managing and archiving of the data generated from the connected devices is a critical success factor for the industries. Based on that the criticality of data to the application/use-case, redundancy, and granularity of information generated from the connected devices, decision towards level of compression and timelines for storage are decided and implementing the security and governance policies around the storage.”
IDC predicts that by 2025 there will be 55.9B connected devices worldwide, 75% of which will be connected to an IoT platform.
IDC estimates data generated from connected IoT devices to be 79.4 ZB by 2025, growing from 13.6 ZB in 2019. Most of this data arises from security and video surveillance, but Industrial IoT applications will also take a significant portion of this data.
Based on the assets across different use cases of IoT, IDC has designed a model which considers the level of redundancy and need for short-term or long-term storage. It is projected that Permanent storage requirements for 4K video data will reach 26,680 exabytes across connected assets in Asia/Pacific* by 2025, growing at a 5-year compound annual growth rate of 23.2%.
Other key highlights of the report:
- Application area, asset type, use-cases, and level/ frequency of access and redundancy in the data are key consideration areas for selecting the appropriate storage solution for long-term and short-term storage of data.
- While technical aspects translate to the adequate storage requirements, the report also emphasizes upon how Governance, Risk and Compliance policies are implemented in these storage solutions for long term storage of the data.
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by IoT.Business.News, Khareem Sudlow
